Find the simple interest on ₹2,70

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

Find the simple interest on ₹2,700 for 8 months at 5 paisa per rupee per month ?

Options:

₹950

₹720

₹540

₹1,080

Correct Answer:

₹1,080

Explanation:

P (Principal) = 2700/-

Time = 08 Months

Rate% = 5 Paisa per month

SI = Total rate of interest (Time x Rate%) = 8 x 5 = 40%

[Time and Rate% are given in months]

10% of 2700 = 270

40% of 2700 = 270x4 = 1,080/-

Answer = 1,080